Acadian Asset Management LLC Sells 264,290 Shares of Quorum Health Corporation (NYSE:QHC)
Acadian Asset Management LLC decreased its position in shares of Quorum Health Corporation (NYSE:QHC) by 48.1% during the second quarter, Holdings Channel reports. The firm owned 285,052 shares of the company’s stock after selling 264,290 shares during the period. Acadian Asset Management LLC’s holdings in Quorum Health Corporation were worth $1,183,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its stake in shares of Quorum Health Corporation by 853.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,111 shares of the company’s stock worth $183,000 after buying an additional 22,477 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Quorum Health Corporation by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,910 shares of the company’s stock worth $116,000 after buying an additional 960 shares during the period. Kohlberg Kravis Roberts & Co. L.P. increased its stake in shares of Quorum Health Corporation by 502.3% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 1,663,181 shares of the company’s stock worth $9,048,000 after buying an additional 1,387,064 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Quorum Health Corporation by 81.4% in the first quarter. JPMorgan Chase & Co. now owns 1,707,292 shares of the company’s stock worth $9,288,000 after buying an additional 766,051 shares during the period. Finally, Norges Bank bought a new stake in shares of Quorum Health Corporation during the fourth quarter worth approximately $1,150,000. Institutional investors own 87.88% of the company’s stock.
Quorum Health Corporation (QHC) traded up 17.97% during mid-day trading on Thursday, hitting $3.61. The stock had a trading volume of 750,142 shares. Quorum Health Corporation has a 1-year low of $2.54 and a 1-year high of $9.46. The company has a 50-day moving average price of $3.73 and a 200 day moving average price of $5.37. The company’s market cap is $109.39 million.
Quorum Health Corporation (NYSE:QHC) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.24. Quorum Health Corporation had a negative net margin of 16.94% and a negative return on equity of 60.49%. The company had revenue of $530.15 million during the quarter, compared to analyst estimates of $513.50 million. During the same quarter in the previous year, the business earned ($0.82) EPS. The firm’s revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Quorum Health Corporation will post ($1.63) EPS for the current fiscal year.
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QHC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Quorum Health Corporation from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Saturday, July 22nd. Credit Suisse Group reiterated a “neutral” rating and set a $3.25 price objective (down previously from $5.00) on shares of Quorum Health Corporation in a research report on Wednesday, May 17th. Finally, Morgan Stanley initiated coverage on Quorum Health Corporation in a research report on Tuesday, June 6th. They set an “underweight” rating and a $3.00 price objective for the company. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Quorum Health Corporation currently has an average rating of “Hold” and a consensus price target of $4.57.
In other news, insider Thomas Daniel Miller purchased 185,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $2.85 per share, with a total value of $527,250.00. Following the acquisition, the insider now directly owns 814,139 shares of the company’s stock, valued at $2,320,296.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Shaheed Koury purchased 8,500 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was purchased at an average cost of $3.56 per share, with a total value of $30,260.00. Following the acquisition, the senior vice president now directly owns 88,680 shares in the company, valued at $315,700.80. The disclosure for this purchase can be found here. Insiders bought a total of 197,500 shares of company stock valued at $568,190 in the last three months. 4.70% of the stock is owned by company insiders.
About Quorum Health Corporation
Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. The Company operates in two segments: Hospital operations, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services, and hospital management advisory and consulting services, which includes Quorum Health Resources, LLC (QHR).
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